According to a post from The Hockey News, billionaire Terry Pegula has signed a letter of intent to purchase the Buffalo Sabres. Earlier this year, Pegula donated $88 million for Penn State to start men’s and women’s D1 hockey programs (including the endowment for staff and scholarships to support it).

The Buffalo Sabres have released a statement denying the article, saying,

The report that a $150 million letter of intent has been signed is simply not true.

ESPN correspondent Pierre LeBrun tweeted that minority owner Larry Quinn denies a letter of intent had been signed, but that Pegula definitely has interest in the program.

Pegula’s wife is from Buffalo, and he spent a period of time living in western New York during which he became a Buffalo Sabres fan. Pegula loves hockey and he earned billions of dollars this year… why wouldn’t he want to buy the team? And it’d be hard to see how such a move would be anything but good for Penn State hockey too.

If Pegula doesn’t buy the Sabres, he’ll probably do something else. Maybe it’ll just be a renovation to his house in Boca, but there have got to be some better ideas for what he should buy or donate next.